AI-driven speech analytics is a widely used term that has been adopted for marketing purposes by many players in the call centre industry. Used in the right way, Speech Analytics can be a powerful tool to boost insights into customers. It offers a way for call centres to better understand and enhance customer experience and to perform service quality monitoring. Done right, speech analytics can enable optimise customer experience, boost loyalty – and, ultimately, improve productivity and enhance customer satisfaction.
As speech analytics technology evolves, so too does the adoption of AI-powered Speech Analytics services and the accuracy of speech-to-text applications for a growing number of different languages. According to one report, the speech analytics market is set to grow from $2.3 billion in 2022 to $5.1 billion by 2027 (a CAGR of 17.3%).
This trend is being driven by the need for enhanced customer experience, the need to boost call centre performance, and the need to leverage data to increase customer loyalty and retention.
Reading between the lines of customer interactions
Speech analytics is a component of natural language processing, AI, and business intelligence, which allows organisations to gain value from analysis of customer conversations, regarding how positive the conversation was, to obtain an idea of the sentiments conveyed, outcome, and other information.
Not only that, but speech analytics also provides insight into conversations between colleagues, providing an end-to-end overview of how the organisation is performing – from a communications perspective – both internally and externally. This continuous quality monitoring and assurance is key to optimising call centre performance and, ultimately, providing exceptional customer experience throughout the interaction journey.
According to Gartner, 90% of enterprise professionals see speech analytics as essential for optimising the customer journey, while a survey by Orange Business found that agents who work with speech analytics tools report a 69% improvement in their job satisfaction levels when working at a call centre.
Speech analytics improves agent performance and customer experience
The benefits are clear. Speech analytics analyses speech patterns, vocabulary, and tone and content to identify common issues, monitor customer requirements and expectations, address problems proactively by analysing customer sentiment in real time, improve agent training and support, provide insight into customer experience, and measure the effectiveness of marketing campaigns. Further, it can be used to increase revenue by identifying up-sell and cross-sell opportunities.
The following list provides a summary of just some of the use cases, speech analytics can provide:
- Quality assurance
- Agent training and development
- Agent performance management
- Customer sentiment analysis
- Reduced costs (speech analytics can reduce repeat calls by 15%)
- Improved customer experience
- Identify operational issues
- Ensure compliance
- Improve flexibility and agility
Sentiment analysis is a key component of speech analytics. Also known as opinion mining, sentiment analysis can be used not just to monitor the ‘mood’ of the customer in real time, but also gain insight from customer opinions and ratings, such as on social media sites.
AI-driven sentiment analysis eliminates human bias when it comes to assessing the customer experience, which allows call centres and organisations to improve customer scripts, for example, and streamline products and services by assessing brand reputation and campaign performance. Put simply, speech analytics is an essential ingredient for call centre success. So, how can call centres, and other organisations, successfully implement speech analytics?
Touch Quality Management Service for continuous customer experience assurance
Touch Call Recording Service can be supplemented with a valuable additional package – Quality Management Service, or QMS.
QMS is an automated solution that helps organisations evaluate customer calls, ensure compliancy with relevant legislation, and assess employee performance in an efficient and structured manner. It’s a key tool in any quality system.
Touch QMS enables you to:
- Evaluate service delivery and consistency
- Compare service delivery for individuals and teams
- Benchmark and generate KPIs for management
- Discover coaching and training opportunities
- Proactively improve employee performance
Touch QMS provides continuous evaluation of agent performance enabling call centres and organisations to create structured training programmes where necessary to ensure a focus on the delivery of exceptional customer service. It provides a range of flexible categories for evaluation that can be configured for customer needs, including:
- Customer greeting and introductions
- Listening and attentiveness
- Respectful engagement
- Understanding customer needs
- Conversational scoring
- Resolution and outcomes
- Opportunity discovery
By enhancing agent-customer interactions, organisations can expect to boost productivity, increase first-call resolution, grow sales, provide consistent and engaging customer experience, ensure compliance obligations are being met (or not missed), and enhance overall customer service.
Figure 1. Example of a Touch QMS score chart
Results of evaluations are presented in intuitive charts for presentation and training to create an unbiased, objective view tool for quality management and improvement. Employees can also access their own scores and evaluation to view historical improvements, or to compare their performance against colleagues.
Touch QMS is designed for simplified coaching and development and provides customisable templates that can be used to create structured individual training plans, including call evaluation, performance, and benchmark reports. So, what are you waiting for?
Contact us today to find out how Touch QMS can provide continuous quality monitoring and assurance to help you attract and retain customers, enhance customer experience, and ultimately boost productivity, efficiency — and customer satisfaction.
Meeting NIS2 and DORA compliance with Touch Call Recording Service
NIS2 and DORA are two new EU-wide regulations that will affect millions of organisations based in, and offering services to, the EU bloc – and have a direct impact on call recording and compliance programmes. Are you ready?
Ensuring good practice for compliance recording
Deploying a call recording solution for compliance and training purposes is just the first step. Compliance is an on-going commitment that should incorporate best practices and over-arching compliance policies and strategies. Touch provides a complete service that ensures all of your bases are covered.